Stocks of Range Resources Corp (NYSE:RRC) traded higher last session on Wall Street, down -0.32% to $37.65.
RRC stock price is now 12.84% away from the 50-day moving average and 17.28% away from the 200-day moving average. The market capitalization of the company currently stands at $9.14B.
With the price target maintained at $45, Scotiabank recently Downgraded its rating from Sector Outperform to Sector Perform for Range Resources Corp (NYSE: RRC). On April 10, 2024, Barclays recently initiated its ‘Underweight’ rating on the stock quoting a target price of $35, while ‘The Benchmark Company’ rates the stock as ‘Hold’
In other news, Kavanaugh Ashley, VP, Principal Accting Officer sold 15,978 shares of the company’s stock on Apr 25 ’24. The stock was sold for $603,131 at an average price of $37.75. Upon completion of the transaction, the VP, Principal Accting Officer now directly owns 22,370 shares in the company, valued at $0.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 03 ’23, SVP, Principal Accting Officer Ginn Dori sold 25,000 shares of the business’s stock. A total of $930,750 was realized by selling the stock at an average price of $37.23. This leaves the insider owning 60,804 shares of the company worth $2.29 million. A total of 3.18% of the company’s stock is owned by insiders.
During the past 12 months, Range Resources Corp has had a low of $23.92 and a high of $37.89. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 1.35, and a quick ratio of 1.35.
According to the Oil & Gas E&P Company, earnings per share came in at 0.3, beating analysts’ expectations of 0.25 by 0.05. This compares to $1.95 EPS in the same period last year. The net profit margin was 20.97% and return on equity was 13.34% for RRC. The company reported revenue of $645.37 million for the quarter, compared to $1.19 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -45.6 percent. For the current quarter, analysts expect RRC to generate $609.69M in revenue.
Range Resources Corp(RRC) Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies. The company was formerly known as Lomak Petroleum Inc. and changed its name to Range Resources Corporation in August 1998. Range Resources Corporation was founded in 1976 and is headquartered in Fort Worth, Texas.
